About Nordic Property News
Filter news (Change)
ARTICLES TAGGED WITH "Entra"
The Battle for Entra – From Start to Finish
Not since Erling Braut Haaland was set to leave Red Bull Salzburg for a bigger European club has the interest been as high for a Norwegian player. A bidding war for the Entra shares broke out between Castellum and SBB – with Balder taking a corner position. After months of twists and turns both the Swedish giants withdrew their offers. Nordic Property News sets the timeline for the battle.
SBB Leaves Entra Bid – Castellum Increases Its Holding
Castellum has acquired 2,298,504 shares in Entra. The other bidder, SBB, throws in the towel.
Entra in Lease Agreement in Trondheim
Entra has signed new lease contracts with Volue and WSP for a total of 4,100 sqm in a new-build project in Holtermannsveg 1-13 in Trondheim.
“This Has Had an Impact on Our Organization”
Entra’s CEO Sonja Horn on the latest events circulating the company, how they move forward now and the strong Q4 figures.
Castellum's CEO on the Withdrawn Entra Offer
Henrik Saxborn on what happens now with the Entra holdings, and the next step in the giant Blackstone deal.
Castellum Withdraws Voluntary Entra Offer
Castellum has not received sufficient acceptances of the offer in order for the minimum acceptance threshold pursuant to the Offer Document Section 4.12 to be met.
Why Entra Pre-Announced the Q4 Figures During the Giants' Bidding War
CEO Sonja Horn: ”We found it prudent to update the market on the Q4 performance.”
During the Bidding War: Entra Presents Q4 Figures in Advance
As a result of the current situation where both Castellum and SBB have put forward voluntary offers for the company’s shares, and to ensure that all shareholders have the information necessary to evaluate these offers, Entra has decided to release an update of the financial and operational performance in the fourth quarter of 2020.
“They Need to Pay Much More to Get Entra”
The battle for Entra keeps going with both Castellum and SBB keen on acquiring the Norwegian jewel. But so far the bids have been rejected. Bård Bjølgerud, partner and CEO of Pangea Property Partners, explains why he is not surprised by the rejections and gives his view of why Entra is such an attractive company.
Entra Acquires Property in Stavanger Below Market Value
Entra has called an option to acquire the property Lagårdsveien 6 for 126 million, while Newsec, one of Entra’s external valuers, has estimated the fair market value at 313 million.
SBB Launches Enhanced Tender Offer to Acquire Entra
SBB announces the launch of its revised tender offer to acquire all outstanding shares in Entra.
Entra Receives an Improved Offer from SBB
The board of directors of Entra notes that SBB has announced an intended new voluntary offer with improved terms.
Castellum Doesn't Give Up on Entra: ”Together We Can Create Something Amazing”
Castellum's CEO Henrik Saxborn on the revised offer to acquire the majority of the shares in the Norwegian heavyweight Entra, and the recent blockbuster divestment to the Blackstone subsidiary.
Castellum Increases Entra Offer – and Announces Major Sale to Blackstone
On November 26, 2020, Castellum announced the intention to launch a share exchange and cash offer to eligible Entra's shareholders. Castellum now increases the consideration in the offer by 13.9% by offering each eligible Entra shareholder 8 newly issued Castellum shares for every 13 shares in Entra and NOK 54.39 in cash per share in Entra, representing a total value of NOK 1852 per Entra share excluding synergies.
Entra's Board Recommends Shareholders Not to Accept Castellum's Offer
Entra's board recommends that the company's shareholders not accept Castellum's offer for the company. However, the board is open to discussing a different approach to a deal, with Castellum or another player.
Timeline: The Battle of the Norwegian Giant
SBB, Castellum or status quo? Difficult to follow the different turns in the Entra affair? Nordic Property News has pointed out some key dates during the last couple of weeks, when the Swedish property giants have fighted for a major impact in Norway’s largest listed company, Entra.
SBB Withdraws from Entra Offer due to DD Process
SBB has since the offer was made undertaken work in relation to the closing conditions set out in the offer.
SBB’s CEO on Entra’s Claim to Be a Competitor: ”Nonsense”
The bidding war for the Norwegian real estate company Entra took another turn on Wednesday when SBB chose to withdraw its bid. Ilija Batljan, CEO of SBB, tells about, from his point of view, the unfair treatment from Entra.
After Batljan’s Disappointment: This Is Entra’s Response
CEO of Entra, Sonja Horn: ”SBB was given access to the same information on Entra as other interested parties.”
Balder Acquires Five Percent of the Shares in Entra
Balder has today issued a flagging announcement that they have acquired 5 percent of the shares in Entra.
Entra Largest Owner Declines Bids from Castellum and SBB
The Norwegian pension fund Folketrygdfondet - which owns 11.8 percent of Entra - says no to both Castellum's and SBB's bid for the company.
“We Would Be One of the Largest Companies in Europe”
Henrik Saxborn on the vision for the potential giant company, what changed during the day after the first terminated discussions with Entra, and how he views a possible bidding competition.
SBB Initiates Due Diligence of Entra
SBB has now signed the appropriate NDA with Entra to initiate a due diligence.
SBB Still on Track: Launches Voluntary Offer to Acquire Entra
SBB launches voluntary offer to acquire Entra ASA to create the leading European social infrastructure player.
Why Norway Attracts the Swedish Heavyweights
The competition of Entra continues. Mikael Söderlundh, Head of Research and Partner at Pangea Property Partners: ”This has been a game changer.”